Member Info for Daisan

Endion, TA just considers the price action. As the price action is directly related to human/emotional trading patterns, these are very much considered by TA.

I am not sure what stock markets you are looking at but none of the ones I am looking at look remotely like falling over at his stage. However, the benchmark US bond yields are certainly relevant from a fundamental perspective. Technically gold could well fall from here as it is testing support and is looking weak. Equally it could bounce! I suspect that there are some central banks buying gold as they have been for a few years now (China, Russia as examples).

If you review the RNSs you will see that they sold some at much higher levels but started buying again at just over C$10. They haven't bought or sold since then.

A really good show!

We are in complete agreement myfirstmillion! Considering the multiple areas of strong mineralisation across the whole region it seems inconceivable that there aren't one or more feeder systems. We just need to find them and the only way we can do that is through deep drilling.

Didn't mean to sound so terse!

Further to this, I have had a look at the deeper magnetic anomalies as shown in this document (quite old - Nov 2009!): http://www.kalimantan.com/i/pdf/KSK_correslation_summary_peter.pdf It's a bit primitive but what isn't primitive is the information inside it, namely that there are huge, deep seated magnetic anomalies littering the whole of the KSK CoW. These anomalies, I believe, have never been drill tested but the mineralisation around them is consistent with copper/gold porphyrys. The thing about these systems is that the surface mineralisation tends to be relatively weak and does not sit above the deeper, higher grade and larger system. As such, these deep signatures are offset from the surface structures. I think that I am right in saying that pretty much all of the drilling that has gone on at KSK is relatively shallow with only a few deep holes at known surface systems. Identification of these drill areas has largely been done on the back of soil geochemistry and if you look at the priority drill targets stated in the last RNS these all point to near surface deposits identified in this manner. Now, as I suggested in my last post some of these are likely to be pretty decent deposits with BK being nothing special compared to, for example, Baroi/FEZ. However, looking at these deeper targets you cannot help getting the feeling that, whereas we are hitting the equivalent of mammals near surface, there are whales lying below! Whilst I think that there is a great deal of low hanging fruit to be found at KSK and it will be exciting to see the drill results rolling in, I can't help thinking that a deep drill scouting programme targeting the deep magnetic anomalies (perhaps at the areas suggested in this report, namely Mansur, Beruang Kanan, Beruang Tengah, Baroi, Mamuring, Tumbang Huoi and Rinjen) would have the potential for genuinely jaw dropping results that would life this company into the league of major discoveries. I stress that all of this is speculation and the main thrust of my argument is a desire for deep drilling of the magnetic anomalies to actually discover whether these targets do have world class potential.

True. He might get one right.

It's on YouTube. Search for 'Zak mir bulletin board heroes'. It is the one for 18th May. I wouldn't put too much faith in his review.

I have been having a look at the gravity imagery available on KSK, see here: http://asiametresources.adnetcms.com/assets/pdf/img/Figure_2_KSK.png And it is pretty revealing I believe. The problem with these things is that sometimes they can look very exciting but the only way of ensuring that what you are seeing is consistent with viable mineralisation is to drill it and see. Fortunately we have done a significant amount of scout drilling - enough to tell us whether the imagery does indeed match up with mineralisation. Looking at the image, the things that stand out to me are: - BKM and the surrounding area look pretty insignificant compared to the wider area but BKW looks great most interesting of this area (if you look at the copper imagery that tends to suggest the same) - Baroi/FEZ look considerably more interesting and drilling has clearly suggested that this is the case. The two areas combined look like they are similar in size to the whole of BK but with the potential for higher mineralisation - A somewhat bigger zone with what appears to be a similar signature to Baroi lies immediately to the south of BK. What is this zone? Has it ever been drilled/sampled? Its proximity to BK would suggest that it may be able to piggyback the future mining infrastructure there. As could the Low Zone. - Perhaps the most intriguing area is that of Waterfall and north. Anyone have any knowledge of this area? What about the areas between and around the imaged zones? Does anyone have exploration rights to this? I see no reason why the mineralisation should be contained just within these areas and the north looks particularly interesting. Any reason why the geology of this area would be difficult to mine? Or is the lack of detail in some of these areas due to accessibility or permitting? Whilst there are question marks over these kind of images, there is some physical evidence to support the presence of the mineralisation at the areas indicated. If that is the case then BK would appear to be the runt of the litter. A half million tonne of contained copper runt.

Sorry sankeys, my autocorrect changed you to 'donkeys'. Useless this technology.

Dan_The_Man, As I said and donkeys has reiterated, it is irrelevant what their position is as the announcement would be on AIM as a material adjustment to their portfolio. The same is true with the warrants. As such, no alterations have been made with respect to the stake in btl.

Vela certainly sold a number of shares when the price was considerably higher but the most recent transaction was a purchase when the price was C$10 or so I believe. I doubt whether they would sell and not announce it to the market as this surely would be material.

SHG had an average gold price of $1329/oz, reaffirming that gold producers sell at spot. Need I go on?

XTR is a terrible example. Apart from the fact that I gave an example that produced 125k oz in the quarter whereas XTR produced 300, XTR works via third parties to mine and produce the gold. To my knowledge they never explicitly state the price of gold sold or other costs that may result in their attributable revenue. So when you calculate the average price you don't know what it is the average price of! Just had a look at AAZ. They sold gold in the quarter at an average of $1328/oz. Exactly the same as CEY.

Capablanca64, I confess my experience of gold miners obviously appears different to yours. Excluding those with hedges in place, I find that the realised gold price is very predictable based on the spot price. Just to check that I am not deluding myself (as I am sure that I am as guilty of this as most), I checked CEY's q1 report. Their average realised price is pretty much spot on the average gold price for the quarter. I chose CEY as it's production is high and continuous so should not be subject to too many 'lumpy' sales that would skew the numbers.

Capablanca64, That is an interesting subject but applies equally to your own argument. In my experience commodity companies usually state the price achieved and it is pretty similar to the market price. I am more of a gold investor though so there is a lot of transparency in this compared to the Vanadium market. Costs of doing business, i.e. those that reduce the price, are usually stated as part of the sales costs associated with selling the product than reducing the product price.

Capablanca64, I think what people are trying to say is: - the prices quoted in the RNS are from metal bulletin rather than sales prices - they are for ferrovanadium whereas BMN provide Nitrovan which commands a 5% premium - the prices Alpha is referring to are current rather than those released in an RNS Whilst each of you is stating verifiable facts, you are referring to different things.

I'm sensing conflict. Perhaps we all need to sit around in a circle with our woolly jumpers on, smoke our pipes and ritually chant 'om' for a while. Mind you, a bit warm for woolly jumpers at the moment so perhaps just our 'save the whale' T-shirts.

It's a classic traders market and I suspect that we will see many ups and downs as we go along. I have been expecting a more severe dip as a result of the dramatic rise but it hasn't materialised so far. Still possibility that we may dip quite a bit further but at some point the focus will shift to the looming rebar requirement in China. I can't see how this can be ignored in the market.